The 10-second takeaway
For the quarter ended Sep. 30 (Q1), Cardiovascular Systems beat expectations on revenues and exceeded expectations on earnings per share.
Compared to the prior-year quarter, revenue grew significantly and GAAP loss per share expanded.
Gross margins expanded, operating margins shrank, net margins contracted.
Cardiovascular Systems chalked up revenue of $23.3 million. The six analysts polled by S&P Capital IQ expected to see a top line of $21.6 million on the same basis. GAAP reported sales were 25% higher than the prior-year quarter's $18.7 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at -$0.26. The four earnings estimates compiled by S&P Capital IQ forecast -$0.33 per share. GAAP EPS were -$0.26 for Q1 compared to -$0.22 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 77.4%, 70 basis points better than the prior-year quarter. Operating margin was -22.4%, 580 basis points worse than the prior-year quarter. Net margin was -22.4%, 170 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $23.2 million. On the bottom line, the average EPS estimate is -$0.30.
Next year's average estimate for revenue is $95.4 million. The average EPS estimate is -$1.18.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Cardiovascular Systems is buy, with an average price target of $13.50.
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